GWC Grows 15% Year-on-Year in Net Profits Earning QAR 101.3 million in H1 2016
GWC (Q.S.C.), Qatar’s leading logistics provider, concluded the first half of 2016 with a steady rate of growth of 15% in its net profits, achieving QAR 101.3 million, as compared to QAR 87.7 million by the end of the same period in 2015. The company’s revenue streams had an equally consistent rise despite challenging market conditions, with total revenues peaking at QAR 430.1 million at the end of the quarter, an 8% increase from QAR 397.9 million in the first half of 2015. The earnings per share registered for the period was QAR1.76 as compared to QAR 1.70 during the same period of 2015. The company’s assets continued to develop, with total assets reaching QAR 3.297 billion by the end of June 2016, compared with QAR 2.981 billion at the end of December 2015, representing an 11% growth.
“By exploring new markets and maintaining our commitment to the tenets of the Qatar National Vision 2030, we continue to achieve our purpose and remain the provider of choice for logistics services in Qatar, and thereby ensuring our shareholders the best possible returns.” stated GWC Chairman Sheikh Abdulla bin Fahad bin Jassem bin Jabor Al-Thani.
On the development side, the GWC Bu Sulba Warehousing Park has completed 65% of construction at the site, keeping it on track for launch on time, with a significant number of clients already signed on for warehousing space and services.
Meanwhile, the company’s many divisions showed strong contributions towards client acquisition and project development. GWC Contract Logistics signed on a number of important contracts in new consumer sectors, while GWC Forwarding performed a number of important charters for major clients in the oil & gas sector. GWC Records, Transport, and Fine Art handling also scored major contracts reaffirming the company’s position as the provider of choice for logistics and supply chain solutions.
For its continued commitment to excellence in performance and service provision, GWC won the Supply Chain and Transport Awards (SCATA) award for Leading Logistics Manager of the Year 2016. This award and accolade came after the company won the Frost and Sullivan GIL Global Best Practices Award for Leading Domestic Logistics Service Provider of the Year 2016 earlier in the year.